Thursday, July 2, 2015

The Average New Graduate Salary

The average college graduate recieves a job offer worth nearly the U.S. median household income.


Although graduations are usually framed as turning points and milestones in personal growth, on a more practical level they also mark the gateway to a higher tax bracket. Although college graduates' average starting salary decreased by 2 percent between 2009 and 2010, according to CNBC, the average salary of college graduates entering the job market is still much higher than for high school graduates.


College Graduate Starting Salaries


Although college graduates' initial salary offers vary widely by their field and local hiring conditions, the nationwide average for all entry-level positions for college graduates in 2010 was $48,351, according to CNBC. This figure is close to the median household income in the United States -- the total income made by all members of a home above the age of 15 -- which was $50,221 as of 2008, as reported by the U.S. Census Bureau. A household with two entry-level college graduates earning average wages earns $96,702, 92 percent more than the median household income in the nation.


Top Paying Graduate Salaries


A college graduate's staring salary hinges largely upon her field. In 2010, degrees that involved a heavy load of mathematics and science dominated the list of most valuable college degrees. Graduates with a degree in petroleum engineering earn the highest salary upon leaving college, with a median starting salary of $93,000 as of 2010, according to CBS Money Watch. Graduates with degrees in computer engineering, nuclear engineering and chemical engineering all earned more than $60,000 on their first jobs.


Average High School Diploma Salaries


In contrast, holders of high school diplomas or GEDs earn much less than college graduates. As of 2008, the average annual salary for high school graduates was $25,000, according to the U.S. Department of Education's National Center for Education Statistics. Those average earnings were nearly half those of college graduates, who averaged salaries of $45,000 a year. A two-member home with two workers with high school degrees earns less than the median household income for the United States.


Lifetime Earnings Comparison


Thinking long term, advanced degrees may literally be worth millions to those who hold them. A high-school dropout typically earns about $1 million over the course of his lifetime, with a diploma raising that lifelong earning figure to $1.2 million, according to Earn My Degree. Workers with a bachelor's degree earn $2.1 million over the course of their careers, while a master's degree is worth an additional $400,000 on top of a bachelor's degree. Those who obtain an advance professional degree may expect to earn $4.4 million over the course of their lifetime.

Tags: college graduates, household income, median household, median household income, 2010 according, million over